The US firm said its paper features an electronic display that can be printed on ordinary paper, board or plastic.

It can be illuminated to highlight areas or to produce displays for signs, point-of-purchase material, brochures, magazines and newspapers.

President Michael Feldman said: "We can pixelate a piece of paper and interface it with a TV receiver to make it act like a TV screen or computer monitor.

"The technology is prototype, but we hope to roll out licences for printers to make electronic paper-based displays later this year.

"It is made on paper by standard printing presses, with no need for specialised gear."

Chief technology officer Dr William Ray said: "It is one of the most important developments in printing in more than 10 years.

"The paper is a unique marriage between the relative simplicity and low cost of printing and the high technology of pixel-based electronic displays."

He claimed it had the potential to replace mobile phone and computer screens, interactive billboards and high-definition TVs at a "fraction of today's cost".

Companies such as E-Ink, Hitachi and Philips are also developing electronic papers.

Quantum's electronic paper
- Full-colour

- Flexible

- High resolution

- Low power consumption and long lifespan

- Low manufacturing costs